CoinGecko co-founder: crypto market saw 600,000 new Token minted in January

PANews reported on February 16th that, according to Crypto.news, Bobby Ong, co-founder of CoinGecko, stated that the crypto market saw a significant increase in new Token minting in January, with 600,000 new Tokens minted, a 12-fold increase from the 50,000 Tokens minted monthly from 2022 to 2023. The acceleration in Token creation began in the fourth quarter of 2024; the monthly minting quantity reached 400,000, then surged to a record level in January. The Block chain network and DEX are also rapidly expanding. Data shows that there are approximately 5 to 10 new on-chain lines per month, with the number of new chains peaking at 17 in May 2024. In addition, 89 new DEXs were tracked in March 2024 alone. Analysts warn that this surge could lead to liquidity dispersion. In response to concerns about its impact on the market, Ong acknowledged the potential downside: “There are too many tokens, and each token will disperse traders’ limited attention and liquidity. That’s why we haven’t seen the sharp rise in the previous few cycles.”